New York, Feb 4, 2026, 14:11 EST — Regular session
- Home Depot shares climbed roughly 1.2% in afternoon trading
- According to NerdWallet, the 30-year fixed mortgage rate slipped to 5.96%
- Wolfe Research cut its price target as investors await Home Depot’s earnings on Feb. 24
The Home Depot’s shares climbed roughly 1.2% on Wednesday, reaching $385.69 and hovering near the session high as the U.S. trading day progressed. Prices fluctuated between $380.70 and $390.50.
Rate-sensitive names like Home Depot are closely watching every hint from the housing sector. Mortgage rates dipped a bit to 5.96% APR on a 30-year fixed loan, according to NerdWallet, which referenced Zillow’s rate quotes; remember, a basis point equals one one-hundredth of a percentage point. Elizabeth Renter, a senior economist at NerdWallet, noted, “Weak and highly concentrated growth in the labor market translates to weaker growth across the economy.” NerdWallet
Investors are watching one key date closely: Home Depot will release its fourth-quarter results on Feb. 24 at 9:00 a.m. ET, per its investor relations calendar.
Wolfe Research cut its price target on Home Depot by $1 to $414 but held onto an “outperform” rating, according to MT Newswires. The tweak was minor, yet it highlighted the potential for the stock to climb if borrowing costs continue to ease. MarketScreener
The move comes after a stronger finish on Tuesday for the home-improvement sector, despite the broader market slipping. Home Depot closed up 0.79%, with rival Lowe’s jumping 2.15%, according to MarketWatch data.
A recent regulatory filing revealed insiders continue to receive stock-based pay. According to a Form 4 — the SEC document insiders file to report ownership changes — CFO Richard McPhail picked up 144.776 “restoration plan stock units” linked to Home Depot shares on Jan. 31 through the company’s FutureBuilder Restoration Plan. SEC
The macro calendar is in disarray, which matters for a stock sensitive to rate bets. The U.S. Bureau of Labor Statistics announced the January jobs report will come out next Wednesday, with January CPI following on Friday. A brief government shutdown threw the original schedule off.
Housing-related stocks grabbed attention in Washington today. Homebuilder shares climbed on news that the Trump administration is mulling a plan to construct a significant number of entry-level homes, according to a report Investopedia attributed to Bloomberg. However, crucial details about the proposal are still unclear.
Home Depot’s downside risks remain intact. At its December investor day, the company projected fiscal 2026 same-store sales growth between flat and 2% — measuring revenue at stores open at least a year. CFO McPhail noted there’s still no sign of “a catalyst or an inflection in housing activity.” Should interest rates rise again or job growth slow, customers may continue postponing major renovation projects. Reuters
Traders are eyeing the rescheduled U.S. jobs report on Feb. 11 and the CPI data coming Feb. 13 for clues on rate expectations. Then on Feb. 24, Home Depot’s earnings will offer fresh insight into demand trends, margins, and full-year guidance.
